[Form 4] Blend Labs, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Oxana Tkach, Principal Accounting Officer of Blend Labs, Inc. (BLND), reported equity awards and tax-withheld shares related to vested restricted stock units. On 08/20/2025 the filing shows two grant-related transactions: 25,000 RSUs and 12,500 RSUs reported as acquisitions (transaction code M) that increased reported Class A common stock holdings to 164,972 shares before a tax-withholding disposition. A subsequent disposition of 10,763 shares (transaction code F) at a price of $3.01 was made to satisfy taxes, leaving 154,209 shares reported as beneficially owned. The derivative table shows RSU balances of 25,000 and 12,500 that convert one-for-one into Class A shares; the filing states these RSUs vest quarterly over four years and two years, respectively, and that shares were withheld to cover tax obligations.

Positive

• RSU grants disclosed: Two tranches (25,000 and 12,500 RSUs) were reported, showing continued equity-based compensation alignment with management.
• Clear vesting schedules: Filing specifies quarterly vesting over four years and two years, giving transparency on future share delivery timing.

Negative

• Tax-withholding disposition reduced reported ownership: 10,763 shares were disposed at $3.01 to satisfy taxes, lowering beneficial ownership to 154,209 shares.

Insights

Financial Analyst

TL;DR: Routine executive equity compensation and tax withholding; net shares modestly decreased after taxes.

The reported transactions are standard restricted stock unit vesting events. Two RSU tranches (25,000 and 12,500) were recognized on 08/20/2025, increasing underlying share counts before a tax-withholding sale of 10,763 shares at $3.01 reduced reported beneficial ownership to 154,209 shares. The filing confirms one-for-one conversion of RSUs to Class A common stock and staggered quarterly vesting schedules (four-year and two-year periods). These items reflect compensation mechanics rather than operational performance.

Corporate Governance Expert

TL;DR: Disclosure is clear on vesting and tax withholding; transactions align executive pay with shareholder interests.

The Form 4 provides transparent detail: codes for grant (M) and tax-withholding disposition (F) are disclosed, vesting schedules are specified, and the RSUs are explicitly defined as contingent rights to one share each. This is consistent with typical equity-based compensation governance practices and adequate for shareholder monitoring of insider holdings and dilution potential.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Tkach Oxana

(Last) (First) (Middle)

7250 REDWOOD BLVD., SUITE 300

(Street)

NOVATO CA 94945

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Blend Labs, Inc. [ BLND ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	PRINCIPAL ACCOUNTING OFFICER

3. Date of Earliest Transaction (Month/Day/Year)
08/20/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	08/20/2025		M		25,000	A	(1)	152,472	D
Class A Common Stock	08/20/2025		M		12,500	A	(1)	164,972	D
Class A Common Stock	08/20/2025		F(2)		10,763	D	$3.01	154,209	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)	08/20/2025		M			25,000	(3)	(3)	Class A Common Stock	25,000	$0	200,000	D
Restricted Stock Units	(1)	08/20/2025		M			12,500	(4)	(4)	Class A Common Stock	12,500	$0	75,000	D

Explanation of Responses:

1. Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of BLND Class A Common Stock.

2. Shares were withheld to cover tax obligations in connection with the vesting of RSUs.

3. The RSUs will vest in equal quarterly increments over a four year period, subject to the Reporting Person continuing to be a Service Provider through each such date.

4. The RSUs will vest in equal quarterly increments over a two year period, subject to the Reporting Person continuing to be a Service Provider through each such date.

	/s/ Winnie Ling, Attorney-in-fact	08/22/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transactions did Oxana Tkach report on Form 4 for BLND?

The Form 4 reports acquisition of 25,000 RSUs and 12,500 RSUs (transaction code M) on 08/20/2025 and a tax-withholding disposition of 10,763 shares (transaction code F) at $3.01.

How many shares does Oxana Tkach beneficially own after the reported transactions?

The filing shows 154,209 shares of Class A common stock beneficially owned following the reported transactions.

What do the RSUs represent and how do they vest?

Each RSU represents a contingent right to receive one share of BLND Class A common stock. One tranche vests in equal quarterly increments over four years and the other over two years.

Why were shares disposed of in the Form 4 filing?

The filing states that shares were withheld to cover tax obligations in connection with RSU vesting, resulting in the disposition of 10,763 shares.

When were the transactions and who signed the Form 4?

Transactions occurred on 08/20/2025 and the form was signed by /s/ Winnie Ling, Attorney-in-fact on 08/22/2025.